On 13 March 2024, the Council on Ethics recommended to extend the observation of the Canadian company Bombardier Inc (Bombardier) due to an unacceptable risk that the company contributes to or is responsible for gross corruption.

Bombardier is one of the world’s largest producers of private jet aircraft. The company was placed under observation in March 2022. The decision was based on the fact that Bombardier or its subsidiaries could be linked to allegations or suspicions of corruption in six countries over a period of more than ten years. In its assessment of future risk, the Council attached importance to multiple deficiencies in the company’s follow-up of corruption risk. This included top management’s lack of communication of zero tolerance for corruption, as well as inadequate third-party assessments and follow-up of when corruption was reported.

Over the observation period Bombardier has provided the Council with limited documentation to show how the company’s anti-corruption and anti-money laundering systems work in practice. Therefore, the Council considers that the risk attaching to Bombardier’s efforts to prevent, detect and deal with corruption still is not acceptable.

On 26 June 2024, Norges Bank announced its decision to extend the observation of Bombardier.

Please find the Council’s recommendation here.